State-run Taiwan Asset Management Corp (TAMC, 台灣金聯) yesterday said it would be more proactive in taking part in urban renewal projects and press ahead with reselling foreclosed properties at fair prices.
Shih Jun-ji (施俊吉), chairman of the nation’s largest bad-loan operator, said TAMC is seeking to deepen participation in urban renewal projects to boost projects on hand and generate profits on a yearly basis.
Urban renewal projects — intended to enhance building safety and stimulate domestic demand — are not subject to selective credit controls to curb property speculation.
Photo: Taipei Times file photo
Housing property price hikes have stabilized following a spate of selective credit controls and unfavorable tax terms, Shih said.
“Taiwan’s house price hikes are relatively moderate, compared with markets elsewhere,” Shih said on the sidelines of a public function, adding that the government has played an important role in stabilizing the market.
The Taipei-based company will continue to pursue reasonable profitability by selling properties it has acquired from the foreclosed market, Shih said.
Selling properties a fair rates has been an effective strategy for more than a decade and will remain a core business at TAMC, Shih said.
For this year, TAMC is to offer two batches of fair housing units, Shih said.
The first batch is to cover 80 apartment units priced from NT$8.9 million to NT$42 million (US$288,306 and US$1.36 million) in Taipei’s Xinsheng N Road and New Taipei City’s Linkou District (林口), he said.
TAMC will introduce the second batch and disclose more details after sales of the first batch are settled, Shih said.
The firm will follow its usual practice of offering about 100 houses in different parts of Taiwan at prices that are 10 percent lower than market rates, he said.
Shih said the US dollar appears to be the only financial asset that has gained value this year.
As long as this trend continues, foreign funds would not demonstrate much interest in local shares after cutting their holdings by more than NT$1 trillion so far this year, he said.
The US Federal Reserve has made clear its intention to fight inflation and raise policy rates sharply to achieve that aim, raising the chances of a hard landing in the US, which would be unfavorable for Taiwan’s exports, Shih said.
However, major local tech firms would emerge relatively unscathed given their global leadership and the world’s dependence on advanced technologies, he said.
When an apartment comes up for rent in Germany’s big cities, hundreds of prospective tenants often queue down the street to view it, but the acute shortage of affordable housing is getting scant attention ahead of today’s snap general election. “Housing is one of the main problems for people, but nobody talks about it, nobody takes it seriously,” said Andreas Ibel, president of Build Europe, an association representing housing developers. Migration and the sluggish economy top the list of voters’ concerns, but analysts say housing policy fails to break through as returns on investment take time to register, making the
EARLY TALKS: Measures under consideration include convincing allies to match US curbs, further restricting exports of AI chips or GPUs, and blocking Chinese investments US President Donald Trump’s administration is sketching out tougher versions of US semiconductor curbs and pressuring key allies to escalate their restrictions on China’s chip industry, an early indication the new US president plans to expand efforts that began under former US president Joe Biden to limit Beijing’s technological prowess. Trump officials recently met with their Japanese and Dutch counterparts about restricting Tokyo Electron Ltd and ASML Holding NV engineers from maintaining semiconductor gear in China, people familiar with the matter said. The aim, which was also a priority for Biden, is to see key allies match China curbs the US
NOT TO WORRY: Some people are concerned funds might continue moving out of the country, but the central bank said financial account outflows are not unusual in Taiwan Taiwan’s outbound investments hit a new high last year due to investments made by contract chipmaker Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) and other major manufacturers to boost global expansion, the central bank said on Thursday. The net increase in outbound investments last year reached a record US$21.05 billion, while the net increase in outbound investments by Taiwanese residents reached a record US$31.98 billion, central bank data showed. Chen Fei-wen (陳斐紋), deputy director of the central bank’s Department of Economic Research, said the increase was largely due to TSMC’s efforts to expand production in the US and Japan. Investments by Vanguard International
The popular Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) arbitrage trade might soon see a change in dynamics that could affect the trading of the US listing versus the local one. And for anyone who wants to monetize the elevated premium, Goldman Sachs Group Inc highlights potential trades. A note from the bank’s sales desk published on Friday said that demand for TSMC’s Taipei-traded stock could rise as Taiwan’s regulator is considering an amendment to local exchange-traded funds’ (ETFs) ownership. The changes, which could come in the first half of this year, could push up the current 30 percent single-stock weight limit
RSS